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1) Strength in numbers. The more alums representing a school, the more influence that group of alums has in recruiting efforts.
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Yeah but strength in numbers also translates into
weakness in numbers. It's a double-edged sword. Sure, having more
grads in the industry provides more recruiting influence, hence creating more potential spots for you. That's the pro But having more
students interested in the industry also means more people from your school competing with
you for those spots. That's the con. Whether the pros outweigh the con is unclear. For example, it doesn't really matter if Michigan alums can provide 10 available spots for Michigan grads if 20 of them are trying to get those spots. Any way you cut it, only half of them are going to get an offer. It's far better to have your old alums provide only 1 available spot that only 1 person is trying to get. That way, everybody who wants a job will get one.
That's why I think it is important to scale for per-capita figures, because it is a better depiction of how many spots will be created, relative to how many people are trying to nab those spots.